Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Merrick Rd. & Whitewood Dr East Massapequa, NY 11762

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Merrick Rd. & Whitewood Dr East Massapequa, NY 11762

    View on Map
    • Retail properties & Spaces
    • 121,910 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Merrick Rd. & Whitewood Dr

    Property size
    121,910 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Southgate Shopping Center offers exceptional executive office space for lease in desirable Nassau County. This multi-tenant property boasts a total of 121,910 square feet, providing a diverse range of options for businesses of all sizes. Currently, there are four available spaces, ranging from a minimum of 876 square feet to a maximum contiguous space of 3,500 square feet, totaling 8,546 square feet of immediately available space. The property's diverse commercial zoning allows for retail, office, and restaurant uses, creating a vibrant and dynamic environment. The building's location within Southgate Shopping Center offers excellent visibility and accessibility, making it an ideal location for businesses seeking a high-traffic area. The flexible space options cater to a variety of business needs, from small startups to established companies requiring larger footprints. This is a prime opportunity to secure high-quality office space in a thriving commercial center. The available spaces are ready for immediate occupancy, allowing businesses to quickly establish their presence and begin operations. Inquire today to learn more about leasing options and secure your ideal space within this dynamic Nassau County commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    East Massapequa
    County
    Nassau
    State
    New York
    Longitude
    -73.4527
    Latitude
    40.6656

    Comparable in this City

    • Value Estimation
      $19,705,000
      77,610 SF

      5300 Sunrise Hwy

      DEPARTMENT STORE • 77,610 SF
      5300 Sunrise Hwy, Massapequa Park, NY 11762-2929
      View Details
    • Value Estimation by Request

      125 Front St

      Office properties & Spaces
      125 Front St, Massapequa Park, NY 11762
      View Details
    • Value Estimation by Request
      2,176 SF

      4850 Sunrise Hwy

      RESTAURANT • 2,176 SF
      4850 Sunrise Hwy, Massapequa Park, NY 11762-2902
      View Details
    • Value Estimation
      $1,385,000
      7,000 SF

      4812 Sunrise Hwy

      RESTAURANT • 7,000 SF
      4812 Sunrise Hwy, Massapequa Park, NY 11762-2910
      View Details
    • Value Estimation by Request
      978 SF

      5070 Sunrise Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 978 SF
      5070 Sunrise Hwy, Massapequa Park, NY 11762-2937
      View Details
    • Value Estimation by Request
      1,410 SF

      109 Frnt St

      BAR, TAVERN • 1,410 SF
      109 Frnt St, Massapequa Park, NY 11762-2737
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      725 SF

      Executive Suites, Massapequa Park

      Prime Office Space, Two Suites Available
      125 Front St, Massapequa Park, NY 11762
      View Details
    • Contact for pricing
      360 SF

      Massapequa Park Retail/Office Space

      Retail and office space across from LIRR train station.
      1000-1004 Park Blvd, Massapequa Park, NY 11762
      View Details
    • $3,950 /Mo
      12,959 SF

      Massapequa Park Commercial Office Space

      Commercial office space in the heart of Massapequa Park.
      1035 Park Blvd, Massapequa Park, NY 11762
      View Details
    • $4,000 /Mo
      1,100 SF

      Retail Space in Massapequa Park

      Retail space available in Massapequa Park, approximately 1,100 SF.
      4732-4736 Sunrise Hwy, Massapequa Park, NY 11762
      View Details
    • Contact for pricing
      13,000 SF

      Massapequa Park Retail Space Available

      13,000 SF retail space with elevator access and parking.
      5300 Sunrise Hwy, Massapequa Park, NY 11762
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Merrick Rd. & Whitewood Dr
    East Massapequa, NY 11762
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!